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Mortgage approvals at highest level since Truss's mini-budget

The Guardian

|

October 30, 2024

Demand for new home loans has risen to its highest level in more than two years as falling interest rates attract buyers back into the property market.

- Larry Elliott

Figures from the Bank of England showed mortgage approvals for new purchases rose by 700 to 65,600 in September - the fourth monthly increase in a row. The rise - seen as a good guide to future borrowing - followed August's cut in official interest rates by the Bank's monetary policy committee (MPC) from 5.25% to 5%.

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